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Utah Business 2010

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Published annually by Utah Governor's Office of Economic Development (GOED)

Published annually by Utah Governor's Office of Economic Development (GOED)

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    Utah Business 2010 Utah Business 2010 Document Transcript

    • ELEVATING REGION GROWTH BY REGION Why Utah is the Opportunity Place to Build Thrives in the Your Business Beehive State EMPOWERING BUSINESS INSIDE AMERICA’S MOST DYNAMIC & INNOVATIVE ECONOMY
    • At First Utah Bank, we respect the small - especially small businesses. We know you are the true backbone of our community. And when it’s time to update your equipment, build your inventory, or improve your facilities, we want you to talk to us first. Visit us at www.Firs tUtah Bank.com/sba or give us a call at 801.478.2303. 2 Utah Governor’s office of economic Development
    • www.bUsiness.Utah.Gov 3
    • Governor’S letter Office of the Governor Salt Lake City, Utah 84114-2220 Dear Business Leader: Welcome to Business in Utah, a publication by the Governor’s Office of Economic Development designed to assist you in becoming more familiar with the business friendly environment and regions in our state. During my extensive travels around the state, I am repeatedly reminded of the many good reasons Utah is regularly praised as a great place to do business. Our preeminence is because we work to our unique strengths, we are innovative and we maintain an attitude of success. With each ranking and accolade we receive, we continue to demonstrate that Utah has the hottest business economy in the nation. These recognitions are many, and they are growing. Utah is ranked No. 1 by the American Legislative Exchange Council (ALEC) as the state with the best “Economic Outlook,” and the Pew Center has named Utah as the “Best Managed State” in the nation. No wonder numerous organizations call Utah “best for jobs” and “best for business,” rankings that reflect the work and commitment of Utah’s successful business community. Our talented citizens comprise one of the most productive workforces in the country. Companies as diverse as Disney, Edwards Lifesciences, P&G and eBay all call Utah home, and have expanded their presence even during our nation’s downturn. Utah shows signs that our dynamic economy is once again taking off in a number of business sectors, including international export, finance, lifesciences, IT and software development. Economic development in Utah will remain one of my top priorities, along with a dedication to public and higher education and development of Utah’s energy resources. Together, with our business community and our citizens, we have built a strong economic base that is a strong stabilizing force. Utah is truly a “State of Opportunity,” and we are ready to grow – today and well into the future. Sincerely, Governor Gary R. Herbert State of Utah 4 Utah Governor’s office of economic Development
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    • We’re generating more than just power. We’re generating answers. We’re all working harder to save money these days. Whether you’re a small or large business, our FinAnswer ® programs have energy-saving solutions and incentives that will help your business be more efficient. You’ll also find all the help you need in our Business Solutions Toolkit – energy calculators, expert advice and industry specific solutions. Sign up today and get the answers that will make your business more energy efficient and reduce its 2010 Rocky Mountain Power environmental footprint. To learn more, visit rockymountainpower.net/toolkit. 6 Utah Governor’s office of economic Development
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    • taBle of ContentS 14 Cover StorY resolve of a native Son Governor Gary r. herbert’s vision for Utah’s economic future Utah has been a clear leader in sound government based on long-term planning and effective management. Read how Governor Gary Herbert’s pro-business vision is fostering economic opportunity and growth. leading the economic Development Charge As executive director of the Governor’s Office of Economic Development, Spencer P. Eccles has positioned the state for responsible economic growth. Features 66 at the Crossroads 24 Growing Utah St. George, Salt Lake City and the Ogden corridor have long been Utah is well known for its desert climate, but it also has incredibly fertile known as the crossroads to the American West. Today these ground for business development and growth. Read how several local three cities are more than transportation hubs; they are desired companies are expanding with post-performance tax credit incentives. locations for new warehousing, manufacturing and distribu- tion centers. Read how major companies like Procter & Gamble, 28 Bringing it home Walmart and consumer products manufacturer Reckit Benckiser Behind Utah’s growth is a well-oiled machine that has maximized the are taking advantage of local logistics. state’s strengths to recruit some of the world’s premier companies. See how the state’s innovative targeted economic cluster approach is driving results. regions 72 Wasatch front: the heart of Utah 32 Going Green Local leaders in the Wasatch Front push forward with innovative With vast amounts of natural resources and open space, and the addition of business strategies, moving the region further along the road of the Renewable Energy Development Incentive (REDI) plan, Utah is moving success. to the forefront of states attracting renewable energy companies. Learn what they are doing to make Utah a leader in the field. 74 Mountainland: Mixing Business with Pleasure Beneath the postcard veneers of Park City resorts, Heber Valley 36 the right track meadows and Thanksgiving Point gardens, there’s a bustling Strong education systems and growing economic sectors have a connec- economic engine and exciting new developments in business. tion. Read about the initiatives and programs designed to prepare Utah’s workforce for the state’s changing economic trends. 78 Southeastern: Diamond in the rough A regional airport, highways, railroads and fiber optics networks 40 the Perfect Combination mean this area is ready for more than breathtaking views. Helping Utah’s Economic Clusters Initiative is a catalyst focusing people, ideas and local businesses grow is a major priority for this region. resources on industry sectors that have the greatest sustainable competi- tive advantage. Look into the sectors putting Utah on the map not just 80 Southwestern: not Business as Usual nationally, but globally as well. These counties have shown resilience to the economic downturn and are making several strides toward a promising future. 46 from Sparks to flames GOED’s incentives promote strong win-win partnerships and net positive 84 Bear river: nurturing Business Growth tax revenues with little risk. Learn about four different incentive programs As the Bear River sustains wildlife and new life springs up along that build on the long-term sustainable factors that attract top companies its banks, it’s almost as if the river is also sustaining many busi- to the state. nesses percolating up from within this region as well as the profit- able companies relocating to this area. 50 expanding Borders Since the state’s first international business office opened in 1982, it has 88 Central: from the Ground Up morphed into the Governor’s Office of Economic Development (GOED) Central Utah’s economically sustainable products and industries, and is continuously growing in scope and stature worldwide. Discover why including wind farms, turkey production, gas and oil mining, and the organization’s relationship-building approach is elevating Utah as an other growing businesses bring a healthy balance to the area’s international business state. natural landscape and recreational opportunities. 54 a healthy State 90 Uintah Basin: More than Meets the eye Nearly half of small business employers do not offer health coverage to Oil and natural gas industries lead the way as new and expanding their employees. The Beehive State is leading the way by putting the Utah business grow. The locals’ best-kept secret is that this region is Health Exchange in place, a program that gives small business employers the finest place around to do business. more health insurance options. 94 rankings 58 a Star in the Making UTAH’S BUSINESS LEADERS What started out as the perfect backdrop for John Wayne and John Ford Accounting Firms Westerns has grown into a robust and competitive film industry. See why Law Firms Utah’s film-ready infrastructure is unmatched. Banks Commercial Builders 62 Journeys of Discovery Top 50 Public Companies From newly discovered dinosaur fossils to an exquisite symphony perfor- Top 50 Employers mance, or from extreme mountain adventures to the rare beauty of desert canyons, read how a journey through Utah is a journey that will elevate and 98 resources refresh the spirit. ECONOMIC DEVELOPMENT AGENCIES BY COUNTY 8 Utah Governor’s office of economic Development
    • Relocating? Whether you are an individual or an organization that is considering making a move to Utah, you need professional assistance from experienced Relocation experts. Coldwell Banker Relocation Services Axiom Financial    Jonathan Cohen CRP, GMS Michelle Hodges Director of Relocation Services Relocation Mortgage Specialist 800.451.3850 877.909.LEND jonathan.cohen@utahhomes.com michelle@axiomfinancial.com ©2009 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® OAC. Not an offer to lend. ©2009 Axiom Financial, LLC is an Equal Housing Lender providing is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal mortgage services throughout Utah. Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC. www.bUsiness.Utah.Gov 9
    • GoeD BoarD MeMBerS BuSiNESS utAH Publisher Tyler Dabo Ragula Bhaskar Mike Dowse Jack Brittain fatPipe networks, Inc amer Sports vP technology venture Editor Dr. Ragula Bhaskar is President Dowse is the President of Amer Sports Jack Brittain, PhD, is the U’s Sarah Ryther Francom and CEO of FatPipe Networks, the Winter & Outdoor Americas (Ogden). Tech Ventures VP Tech Ventures . inventor of patented router-clustering He previously worked for Suunto, commercializes U technologies Supervising Editor technology. Nike, and Wilson. and ranks second to MIT in Michael G. Sullivan number of spinoffs per year. Contributing Editors Linda T. Kennedy Candace M. Little Kimball Thomson Clark Caras Tracie Cayford Gary Harter Peter Mouskondis Jerry Oldroyd Stanley Ellington Leigh von der Esch President and Ceo Ballard Spahr andrews Utah Black Chamber nicholas & Company & Ingersoll of Commerce Contributing Writers Westminster College Foundation Oldroyd is a partner in the Retired administrator from the Heather Beers Board Member, IFDA Board Member, Business & Finance Department and United States Air Force. Executive Mark Dayton Independent Marketing Alliance Board Communications Group, and a Director of the Utah Black Chamber Lindsey Hannay Member, and Markon Board Member. trustee of Utah Technology Council. of Commerce and Chair of United 4 Tom Haraldsen Economic Development. Melanie Johnson Peri Kinder Heather King Alex Koritz Pamela Ostermiller Gretta Spendlove Heather Stewart Larry Warren Hilary Ingoldsby Whitesides Mel Lavitt Amy Rees Anderson James Lee Sorenson needham and Company, llC Mediconnect Sorenson Companies Designer Lavitt’s career in investment Amy is the CEO of Mediconnect James Lee Sorenson is a nationally Ryan Mansfield banking has included hundreds of Global, Inc. In 2007, Amy received recognized business leader and Don Hatchell capital market transactions the Ernst & Young Entrepreneur of entrepreneur with a proven record accounting for several billion the Year Award and she was featured ofsuccess in the varied fields of Photo Editor dollars of equity and debt financing. on the cover of Inc. magazine and technology, life science, real other national publications. estate and venture capital. Weston Wride Advertising Consultants Jessica Henning Brett McDermaid Kip Kuroski Matt Wilson Business Manager David Sampson Molonai Hola Nikos M. Linardakis Rob Adams Icon Consulting Group tharos laboratories, Inc e.D. Beaver County Cover Image Hola is President and CEO nutrilite economic Development Corp. Erik Östling of Icon Consulting Group. Linardakis is a physician executive Currently serves as the Thunderbird International Business and founder of Tharos Laboratories. Executive Director for the Published by: School graduate with a Master’s He is also Executive Producer for Beaver County Economic Olive Film Productions and author. Development Corporation. Utah Business Publishers, LLC in International Management. 859 W. So. Jordan Pkwy, Ste. 101 Rob is a licensed real estate broker with Coldwell Banker. South Jordan, UT 84095 Tel: 801-568-0114 Fax: 801-568-0812 © Copyright 2010 by Utah Business Publishers. All rights reserved. Business in Utah 2010 is published through a contractual agreement with Governor’s Office of Eco- nomic Development (GOED). Every effort has been made to ensure the accuracy of the information herein. However, Utah Business Publishers and the GOED are Mary Draper Clifford D. White not responsible for any omissions or errors that might oc- lowell Bennion Service Center Capital Consultants cur. Furthermore, advertising material is the responsibility of the individual advertisers and appearance in Business University of Utah Businessman, Investor and Financial in Utah 2010 does not necessarily reflect an endorsement of the product or service contained in the advertising by the Draper is a graduate of the University Planner. Active in Utah community publisher or GOED, nor are the publisher or the GOED re- of Utah and the J. Reuben Clark Law service for 42 years. sponsible for the contents of individual advertisements. School. She works at the University Reproduction in whole or part of any text, illustration or photography without the express written permission of of Utah. the publisher is prohibited. 10 Utah Governor’s office of economic Development
    • THIS IS WHEN HAVING NATIONALLY- RENOWNED HEALTHCARE REALLY MATTERS. At Intermountain Healthcare, we use evidence-based medicine to develop best practices. As an example, we’ve reduced the average heart attack treatment time to 67 minutes, beating the national goal by 23 minutes. This focus on best practices is not limited to heart care. We’re working to improve hundreds of clinical processes in the areas of cancer, intensive medicine, women and Healthcare newborns, pediatrics, and other specialties. Our efforts have been noticed by many publications, and political and medical leaders. That matters only because we’re striving to provide the quality care our patients need. There is much more to be done, but we are committed to our mission of providing excellent healthcare. To learn more, visit www.intermountainhealthcare.org. www.bUsiness.Utah.Gov 11
    • 12 Utah Governor’s office of economic Development
    • For businesses looking to expand or relocate in the for companies in need of a large footprint, and our western U.S., Tooele County, Utah is the strategic site. permitting process is convenient and fast. Our quality Just 35 minutes west of Salt Lake City, we’re smack of life is extraordinary with picturesque valleys, dab in the middle between the Rocky Mountains, mountains and the Great Salt Lake. We’re also home the Paci c Coast, Canada and Mexico. In addition to for the world-famous Miller Motorsports Park, and being centrally located with superb Interstate, rail Utah’s renowned ski resorts are less than an hour and airport service, Tooele County has competitive away. For businesses searching for the strategic site, land prices, utility costs, and wage rates. We also the choice is Tooele County, Utah—where industry have an educated and eager workforce that will and opportunity meet every day. take your company to the top. We have lots of land Reckitt Benkiser Bailac For more information 435.843.4792 Tooele County Economic Development 47 S. Main St., Tooele, UT 84074 www.tooeleeconomicdevelopment.com www.ExploreTooele.com Aerial view of Tooele City, Utah Industrial Depot and the Oquirrh Mountains www.bUsiness.Utah.Gov 13
    • Res olve of a Native s oN Governor Gary r. Herbert’s vision for UtaH’s economic fUtUre By KimBall Thomson | PhoTograPhy By EriK ÖsTling # 1 economic outlook Rich StateS, PooR StateS alec- laffer state economic competitiveness inDex 14 Utah Governor’s office of economic Development
    • www.bUsiness.Utah.Gov 15
    • it is clear to anyone who has seen Utah’s 17th governor in action that he has a deep and abiding rooting interest in Utah—one that extends far beyond the professional into the realm of the highly personal. Born in american fork in Utah County, Governor Gary R. Herbert grew up two towns over in orem, where he graduated from orem High school before attending BYU in neighboring Provo. after serving six years in the Utah army National Guard, Governor Herbert established two businesses—Herbert and associates Realtors and the Kids Connection childcare service—in the state. He and his wife, Jeanette, are parents of six children, all of whom they raised in the Beehive state. Herbert was elected Utah’s lieutenant Governor in 2004 on the Huntsman-Herbert ticket, and became Governor Herbert in august 2009. this native son and lifelong Utah resident views his role as Governor as that of steward in chief of america’s most dynamic economy. “Utah has established a real legacy for excellent management,” says Governor Herbert. “i am committed to keeping the state on the right course and to setting an example of what a state can and should be in terms of high-quality, responsible governance.” A Running StARt Governor Herbert is off to a strong running the state’s responsible fiscal management and start. aided by his active leadership, both as discipline. lieutenant Governor and as Governor, Utah Utah garnered the nation’s top spot in has been named Best Managed state by the Forbes magazine’s 2009 state by state Debt Pew Center for Research on the states. the Weight scorecard, based on 12 leading eco- study ranked states based on the quality of nomic factors, reinforced by the state’s aaa their management of budgets, staff, infrastruc- bond/credit ratings from Moody’s and stan- ture and information—including such factors dard & Poor’s, and its exceptionally low 2009 as recruitment and retention of qualified em- per capita debt of $447. ployees; use of information and technology; in Governor Herbert’s first year of leader- “If I were your financial management of budgets and purchasing sys- ship, the state also ranked first for economic advisor, I would tell tems; and planning for improvement of roads, outlook in the Rich states Poor states study bridges and other core infrastructure. by the aleC-laffer state Competitiveness you without hesitation, leading analysts have also identified Utah index. the study contrasted “many states ‘Buy Utah!’” as the state best positioned to achieve a safe that are ‘getting it wrong’ in terms of policy landing as the nation and world emerge from and business friendliness” to Utah, which it Utah Governor Gary r. herbert the sustained economic downturn that began described as “unique in that its leaders are in November 2007. the american legislative making some very conscientious decisions to exchange Council has ranked Utah Number 1 improve their business climate and to make it for expected economic Recovery, based on the clear they are open for business and are not go- state’s sound economic approach of minimiz- ing to tax you out of existence.” Utah climbed ing taxes, spending and regulatory burdens, from 9th to a close 2nd in the Pollina Corporate and creating an environment of economic op- “top 10 Pro-Business states for 2009: Rebuild- portunity and growth. this success rests on ing america’s economic Power.” 16 Utah Governor’s office of economic Development
    • Spencer p. eccleS goED ExEcUTivE DirEcTor Leading the Economic Development Charge By Heather Beers UTah’s hisTory is filled with innovation and vision, and perhaps no one reflects that legacy as much as the new executive director of the governor’s office of Economic Development conveRting chAllengeS (goED), spencer P. Eccles. The combination of into oppoRtunitieS his heritage and background enables him to lead Utah’s continuing drum beat of accolades for example, the challenge of teaching Utah’s economic growth in significant ways at a underscore the deftness with which its lead- and training the nation’s youngest and fast- critical time. ership has undertaken the real and pressing est-growing school age population holds the he is a member of a legendary Utah fam- challenges it faces. intrinsic opportunity of having an able and ily. marriner eccles, the son of the nineteenth- Utah’s demographic situation—with the ready workforce to fuel Utah’s many dynamic century industrialist David eccles, served as the second highest rate of population growth in entrepreneurial growth companies. the key to chairman of the federal reserve for 16 years un- the nation, accelerated by the country’s high- creating and leveraging these opportunities, der roosevelt and established the eccles name as est birth rate and the largest average house- Governor Herbert maintains, is to empower well as the state of Utah in the mind of the nation. hold size—creates a singular set of challenges the state’s private sector and create effective the eccles family founded first security bank in and opportunities for the state. collaborations between Utah’s business, gov- Utah and over the years, their name has become “We have larger families, high birth rates, ernment and education communities. synonymous with civic responsibility. a younger population, which places a tremen- spencer’s father, spencer f. eccles led first se- dous demand on education,” says Governor the thRee e’s: educAtion, eneRgy curity from 1970 until it merged with wells fargo Herbert. “this aspect of our demographics is And economic development in 2000. the family has long been committed to truly unique in the United states. to be able to the need for the economic accelerators of serving the community, elevating the arts, health, train and educate such a fast-growing popula- empowerment and collaboration is most ap- and education in the intermountain region for tion, which adds another 10,000 to 12,000 stu- parent in the three top priority areas for the decades. as the great grandson of David eccles, dents every year to the education system, with Herbert administration: education, energy and spencer p. has an enormous sense of stewardship the smallest base of taxpayers relative to our economic development. passed down through the family and has proven population of any state, is something no other himself a rising star in his own right. place in america has to face. Excellence in Education. spencer’s professional career includes work- “there is no question that this is a time of education is a high-stakes issue for Utah—one ing with wells capital management’s salt lake real and sustained economic challenges,” says that requires bold and visionary leadership. office which manages over $2 billion in assets. Governor Herbert. “No state is immune to the “the number one challenge we have right now he also worked with the olympic committee for effects of the downturn in the national and is, ‘How do we pay our way when it comes to pro- five years and led over 1,500 volunteers and staff international marketplace, but we are going viding government services that everyone wants during the 2002 olympic winter Games as the to meet our responsibilities head on and turn and needs, education in particular, and do it with competition manager of the snow basin venue. them into opportunities for us going forward.” less money?’” says Governor Herbert. he started his own venture capital company that invests in early stage companies and he currently 1 sits on four company boards. mr. eccles has also managed the family’s office encompassing sev- # moSt dynAmic economy eral of his family’s businesses including three 1 KaUffman 2008 state new economy inDex ranching operations. spencer carries on his fam- ily’s sense of responsibility, having served on nu- # hAppieSt u.S. StAte 2 merous private boards and serving as president msnbc - GallUp of the first security foundation and advising the George s. and Dolores Doré eccles foundation. # AmeRicA’S heAlthieSt StAte 3 now, spencer p. eccles has stepped away Forbes maGazine from the private sector – all because of a call from Governor Gary r. herbert. “when the governor # BeSt StAte FoR BuSineSS 5 calls, you pick up the phone,” spencer joked. “it Forbes maGazine was completely unanticipated. but, because of my love for Utah and my desire to give back # AmeRicA’S top StAteS FoR BuSineSS - 2009 1 – the request got my attention, and i felt that it cnbc was important to take the opportunity to serve as the Governor’s office of economic Development # expected economic RecoveRy (GoeD) executive director.” continued > american leGislative exchanGe coUncil www.bUsiness.Utah.Gov 17
    • to answer the imperative of optimizing cost-effective government services, Governor since spencer stepped into the GoeD office, Herbert formed the Utah advisory Commis- he has deftly applied his business acumen to the sion to optimize state Government last sep- Energizing Economic Development. governor’s vision for promoting economic devel- tember. led by Norm Bangerter, Utah’s 13th Utah’s success in funding the education of its opment, education and energy development. he Governor, the commission includes top busi- populace and fostering continued economic dy- explained his approach is all about building on the ness, education and government leaders from namism depends, in large part, on the quality and existing foundation and collaboratively working throughout the state. success of its economic development efforts. with the GoeD team to execute on the Gover- “We formed this exceptional collaborative “economic development and education— nor’s vision of economic development. working group to make sure that we are de- especially higher ed—are really joined at the livering services as effectively and efficiently hip,” says Governor Herbert. “if our companies as possible,” says Governor Herbert. “We are succeed, there will be more money to put into committed to maximizing taxpayer dollars, the education system. By the same token, if we finding savings where we can, and finding bet- improve our education system, we will have ter processes and efficiencies in the system.” stronger people coming out to develop our the group will also explore the implementa- economy.” tion of new technologies to drive efficiencies. Governor Herbert is a strong believer in the the Governor’s overall goal is to deliver private sector as the ultimate source of eco- the highest possible quality of education and nomic growth: “it is not going to come from gov- other services in the most cost-effective man- ernment – real, abiding solutions to economic ner. “i am extremely optimistic that the great growth never do.” people on this commission will find efficien- in many cases, Governor Herbert believes cies,” says Governor Herbert. “it will be hard, the proper role of government is to “get out of but we can do hard things, and excel at them.” the way” by ensuring that taxation policies are SuppoRting BuSineSS gRoWth in addition to the civic and social welfare ben- not so burdensome that they thwart the ability mr. eccles understands that sustainable econom- efits of education, Governor Herbert sees a clear, of the economy, its companies and entrepre- ic development depends on the state’s efforts to reciprocal connection between Utah’s educa- neurs to prosper and expand. improve Utah’s business friendly environment. tion system and the state’s continuing economic “i’m opposed to a tax increase right now,” he GoeD works to strengthen and grow Utah’s ex- dynamism. “education is the glue that holds so says. “it is just the wrong time to douse these isting businesses, both urban and rural. it also many essential things together,” he says. “You flickers of recovery with the wet blanket of a encourages entrepreneurship and investment. it cannot have long-term sustained economic suc- tax increase.” works to attract national and international busi- cess without an excellent education program.” in addition to the direct economic impact ness. GoeD also supports education for the long- Governor Herbert points to Utah’s flagship of a tax increase during a recession, Governor term viability of the state. research institution, the University of Utah, Herbert points out the psychological impact of mr. eccles said that Utah does this in a num- which in 2009 tied with Mit for first in the na- telling companies and entrepreneurs that the ber of ways. “we have a pro-business governor tion for the number of start-ups generated by needs of government and politicians take pre- and legislature – with a corporate income tax of technology developed at the school. the “U” – cedence over the needs of business—the pri- just 5 percent; we’ve kept our tax rates among the and Utah’s other major research universities, mary source of long-term economic growth. lowest in the nation.” Brigham Young University and Utah state Uni- Yet the Governor sees a strong affirmative he pointed to several successful corporate versity – all excel at developing technologies for role for government in the state’s economic incentive programs GoeD administers, which commercialization in areas ranging from it development—helping facilitate and provide makes expansion in Utah more attractive to and aerospace to medical devices, genetic diag- fertile soil for the entrepreneurs, who will in growing companies. based on post-performance nostics and drug delivery. turn create opportunities and grow successful rebates, GoeD incentives also further the mis- “We need to ensure that our education businesses that provide high-quality jobs. sion of having a sustainable and fiscally respon- system continues to evolve so that our stu- “in addition to being lean and mean as a state sible program in Utah. dents get the best, most relevant information government, more than ever before we have an Governor herbert is ardent about his concern available,” he says. “this will enable them to imperative to take a hands-on approach,” he for small and emerging businesses and therefore, develop the skills and technologies the mar- says. “We need to work closely with the private has ensured that his budget provides for the many ketplace demands, and to remain on the cusp sector and empower it to find solutions to the GoeD business programs of technological and economic evolution.” economic challenges we are facing.” along with the state’s supportive business ac- 10 tivities, GoeD partners with many groups around the state, such as the economic Development TOP StAteS FoR joB cReAtion 2 corporation of Utah and the Utah sports com- ihs Global insiGht mission and the Utah science technology and research (Ustar) initiative, among many other # pRo-BuSineSS StAteS FoR 2009 5 public and private organizations. there are tre- pollina corporate mendous resources for people who want to grow their business in Utah,” said eccles. # loWeSt poWeR coStS in the nAtion continued > U.s. enerGy information aDministration 18 Utah Governor’s office of economic Development
    • YOU BET WE HAVE A FIRE IN OUR BELLY FOR YOUR PROJECT. WHY DO YOU THINK WE SNACK ON ANTACIDS? And why else would we have 6:30 AM coordination meetings? And a stockpile of midnight oil? Making sure your project gets done when and how it’s supposed to be done is not a hollow mantra. It’s a given. It’s also why we have become one of the nation’s “Top 100” contractors. Your building represents the blood, sweat and tears of both you and your employees. Your contractor should have a burning desire to contribute the very same elements. We do. 800.748.4481 | www.big-d.com > Ralph Waldo Emerson www.bUsiness.Utah.Gov 19
    • Pure Energy Rush. though the Herbert administration is working when media organizations like Forbes and to foster growth in all significant Utah indus- cnbc rank Utah among the top three states in tries, the Governor has singled out energy as a which to do business, Utah’s productive work- top priority. “We have tremendous natural ad- force is usually one of the top reasons. a strong vantages when it comes to energy—and many educational system is one of the primary con- of them are largely untapped,” he says. tributors to Utah’s stellar workforce. in recent years, Utah has significantly in- eccles talked about Utah’s efforts to improve creased its discovery and production of tra- the communication between three key stakehold- ditional fuels, natural gas and other energy ers: business; education; and government. “we sources. (see the “energy and Public Utilities” have something unique occurring here in the section of the 2010 Utah facts Book.) Utah cluster acceleration partnership (Ucap) Governor Herbert’s philosophy carries the “We are finding vast reserves of natural gas because it brings industry and academia together same resonance as visionary leaders who pre- and other fuels,” says Herbert. for example, in powerful ways,” said eccles. he explained that ceded him, creating such economic develop- significant deposits of high-quality, low-paraf- government works closely with industry and aca- ment projects as: fin oil has been discovered in central Utah, aid- demic leaders to identify the types of students ed by new technology. analysts estimate that and skills that the business community needs. The legislative and regulatory environment there are more than one billion barrels of easy- educators then develop curriculum to support that allowed Utah to become the global to-refine oil in one of the fields. Juab County in those needs. these unprecedented partnerships leader in the industrial bank industry. central Utah is home to significant reserves of are facilitated by a collaborative effort between The pioneering Centers of Excellence bio-diesels and other bio-fuels. the Utah Department of workforce services, the program, which successfully Utah also possesses a massive quantity Utah system for higher education, and GoeD, commercializes technologies that of clean coal; its high BtU makes it burn ex- which help support academia in job training and flow out of Utah universities. tremely hot, while its low sulfur content en- placement in one of seven targeted industry clus- The Utah Fund of Funds program, sures that it burns considerably cleaner than ters. the Ucap partnership provides just one which increases the amount and diversity coals from other states. example of how key governmental stakeholders of capital available to promising Utah in addition to these traditional fuels, Utah work together with education and industry. entrepreneurial companies. is home to a rapidly-growing renewable energy earlier this year an education partner, the Uni- The Utah Science Technology and industry, including significant wind, geother- versity of Utah, through its research and commer- Research program, which helps attract mal, solar and hydroelectric power projects. cialization efforts, tied massachusetts institute of world-class research and commercialization “thanks to new fuel discovery and capture technology as the no. 1 campus in the nation for talent to Utah universities. technologies developed or ‘refined’ at Utah uni- spinning off companies and Ustar is enhancing A variety of award-winning rural economic versities—which enable us to more effectively these results through its commercialization ef- development programs. fracture the rock to find and extract fuel—we forts. “the legislature has committed $300 mil- are literally awash in natural gas, a cleaner fuel lion through the Ustar program,” said eccles. Governor Herbert is fully committed to than traditional gasoline with respect to green- “this creates significant private sector opportu- building upon this legacy. “Going forward, our house gases,” says Governor Herbert. “these nity, because profit is a great motivator.” administration will be guided by the questions fuels, together with our emerging renewable re- “in addition to our business friendly activities of, ‘What we can do to help our homegrown sources, will allow us to significantly grow our in the state we recognize that the cost of energy Utah companies and entrepreneurial talent economies in the short-term. and, in the long is a key component in what business does, and it to, first, stop the bleeding, and, next, grow and term, will help provide energy independence relates to our ability to attract companies here,” expand?’” he says. “We have a tremendous ris- for america and ‘fuel’ our growing economy. said eccles. helping supply affordable energy to ing generation of entrepreneurial talent with Utah is poised to become one of the drivers of the nation and keeping operational costs low are extraordinary creativity in business, science energy independence and growth in the econo- Utah’s plentiful energy resources, including natu- and technology. We are going to do all we can my not only in Utah, but also nationally.” ral gas, coal and oil shale fields. alternative and to empower them to take Utah to levels of Bolstered by Utah’s momentum in econom- renewable energy in the form of wind, solar and achievement greater than anything we have ic development, education and energy, Gover- geothermal power are also under active develop- yet experienced.” nor Herbert is bullish on his state’s present and ment in Utah. future: “if i were your financial advisor, i would tell you without hesitation, ‘Buy Utah!’” bU SuppoRting SucceSS 1 with Utah’s pro-business strategies, fiscal re- sponsibility, low unemployment, education initia- # moSt dynAmic economy tives, and aggressive energy development, eccles 5 KaUffman 2008 state new economy inDex points out that Utah is poised to lead the nation in emerging from its current economic challenges. # hAppieSt u.S. StAte 2 when coupled with the self-reliant and produc- msnbc - GallUp tive citizens, its vast resources, its quality of life, and its innovative industries, it is clear Utah’s # AmeRicA’S heAlthieSt StAte successful past is merely a prelude to its even Forbes maGazine brighter future. bU 20 Utah Governor’s office of economic Development
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    • GRoWInG “The incentives will allow us to continue to expand our operations here in the state,” Nel- UtAh son says. “We wanted to be here and I’m glad that GOED was willing to work with us.” Over the next decade, Nelson plans to add up to 350 new employees, many of them highly paid scientists and technicians. Companies Flourish The state of Utah will reap the rewards of increased taxes—as well as the continued pres- in the State’s Fertile Soil ence of a life sciences company with a global reach. Nelson Laboratories provides analytical By Heather Stewart and microbiological testing services to the medical device, pharmaceutical and dietary supplement industries. With a 25-year history Years ago, entrepreneurial success brought Jeff Nelson to a tough in Utah, the company boasts more than 4,000 decision. His company, Nelson Laboratories, faced a crisis of clients in dozens of countries. growth—its staff of nearly 300 scientists and support personnel “The presence of Nelson Laboratories in completely filled the company’s facility. But Nelson had plans for Utah helps grow the life sciences cluster here. even greater growth, so he reluctantly began considering a move to We are a benefit to the medical device and a new location, even if that meant leaving Utah. pharmaceutical companies that might want to “It’s a very friendly business environment move here,” Nelson says. here,” Nelson says. “But as a businessman, I knew that all the cards were on the table.” An InCentIve to GRoW Fortunately, the Utah Governor’s Office Utah is well known for its sunny, desert climate of Economic Development (GOED) stepped in featuring red sand dunes and high mountain with post-performance tax credit incentives peaks. But the state has also been long recog- that made it possible for Nelson to expand nized for its incredibly fertile business climate, onto his current facility, nearly doubling the which has enabled companies of every kind to space to approximately 110,000 square feet. thrive and grow. 1 nelSon lABoRAtoRIeS 24 Utah Governor’s office of economic Development
    • Jeff NelsoN NeLsoN LaBoratories Building a Business in Utah The fact is Utah has all the right environ- mental factors to help companies succeed. The cost of doing business is low, the local work- force is young and educated, and a great qual- ity of life attracts top talent from around the world. On top of that, the state’s research uni- versities and vibrant community colleges turn out a fresh crop of graduates each year. All of these factors contribute to the suc- cess of a wide range of companies, from fi- nancial powerhouses like Goldman Sachs to defense contractors such as ATK. Information technology companies like Overstock.com have also found a happy home in the Beehive State. Omniture, a Web-analytics company, is a classic Utah success story. Founded in 1996, NeLsoN LaBoratories, a contract laboratory nelson says the key to his company’s success the high-tech startup quickly grew into a dom- that provides analytical and microbiological in Utah has been the state’s centered location and inant worldwide presence with 1,200 employ- test services to manufacturers in the medical cluster initiative. “we have great access to reach ees based around the globe. Omniture recently device, pharmaceutical/biopharmaceutical, di- clients on the west coast and the east coast. it agreed to be acquired by Adobe Systems in etary supplement and tissue industries, first couldn’t be a better location,” he says, adding, order to further expand its reach and its offer- opened its doors in 1985 near the University of “we’re excited to see the state’s cluster initiatives ings. The company will continue to operate out Utah. initially employing only five individuals, which will help specialized companies do well. of Utah as a division of Adobe. the company has since grown to more than 290 GoeD is really making it easier for companies to Utah’s great business climate is no acci- scientists and staff. among them are more than move to Utah. the state is also developing a tal- dent—it’s nurtured and protected by GOED. 110 degreed scientists of which more than 45 ented workforce that’s really exciting.” “When Governor Gary Herbert took office, he are registered and microbiologist specialists. nelson laboratories was recently awarded an wanted us to put a special emphasis on helping when the company needed to expand its fa- incentive to expand in the state, but nelson says local companies expand,” says Derek Miller, cility to make room for its phenomenal growth, the incentive was only the icing on the cake. managing director of GOED. ”We recognize Jeff nelson, ceo, says he never seriously con- “GoeD didn’t just give us money, they gave us an that our best customer is our current custom- sidered taking the lab outside of Utah. that’s incentive to create jobs,” he says. “GoeD is work- er, so as long as we have businesses here in the because from day one Utah proved to have what ing for the state and holding companies account- state, we are going to help them grow.” the company needed to succeed. able to produce. overall, GoeD and the local gov- What is the best catalyst? For corporate “we have had really good luck being in Utah,” ernment of taylorsville were great to work with. growth it is tax relief. GOED uses post-perfor- says nelson. “when it came to considering where they’ve helped me learn a lot about the local mance tax incentives—like the ones that Nel- to locate, it was an easy choice for several rea- structure and economic development of Utah. son Laboratories received—to help companies sons—Utah had everything we needed.” they really spent time teaching us about all the expand their operations in Utah. different ways they could support us. they were patient with me as a business owner—they walked me through the process and listened to “The current economy is causing companies our needs. it’s been a real partnership.” to think about ways to save money, and that includes looking at Utah.” JoSh Romney,